Is this really the end for the famous Twinkies? Some say yes, other say no. Who is there really to believe? On November 16, 2012, Hostess Brands CEO Gregory Rayburn announced the end of Twinkies. "It's over. This is it." He stated as he was interviewed on NBC news. He said he couldn't reach an agreement with the Bakers union specifically, but has made other agreements with the "Teamsters" which is their largest union who actually supported Hostess in their deal they were proposing. Rayburn stated that the leadership of the Bakers union had already made a decision that they were willing to sacrifice some of the workers because they did not want concessions from other companies. The Bakers union fired back by stating how the Hostess workers and the union has no responsibility for the failure of the company.
Rayburn has stated that the shutdown of the company would be immediate, but the whole process of selling the plants, the stores, and other assets of the company. During the interview with NBC news he basically put most of the blame on the striking union, but he has also acknowledged the mistakes of the management, specifically the ones that has dug the company into debt in 2009 which also contributed to Hostess' current situation. Despite the threats of shutting down and liquidating everything, they still need to get permission to do so from Judge Robert Drain who is overseeing the case. Rayburn added that even though if the strikers accept the 8% pay cut, "It's too late. We're done."
As a shimmering light of hope for the company, Rayburn stated "I'm hopeful we can sell the brands." Others have added, "I imagine they'll definitely be able to find buyers." There may be still hope for Twinkies, with an open mind, and an aggressive competition, I'm sure Twinkies will see the light of day once again, but under another name.
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